It is lerarnt that $ 44 tn worth Venezuelan crude oil, which earstwhile was shipped to the US, is now contracted to be exported to China on long-term basis. China which had defeated the US in a major oil negitiations in Afghanistan last year, is now poaching right under the US nose. Result: the West would be starved for oil leading to another price spiral in oil riding the liquidity created by $ 600 bn quantitative easing. Chinese stratgy: Divert a portion of the money printed by the US (to stimulate productive economic activities like manufacturing, which create employment) to oil speculation. This could be a counter offensive blow from China in reply to Obama's campaign against trade imbalance created by undervalued Yuan. Bitain has already deserted Obama on the Keynesian path and has embraced austirity. Rajendra
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